Ann: Quarterly Activities Report, page-86

HH2, you like the nickel areas, eh?

These are areas that I have not taken much interest in, until now that is. These extracts whet my appetite.

MAGMATIC Ni-Cu-PGE SULPHIDE PROJECT

Superior’s Magmatic Ni-Cu-PGE Project represents a newly recognised magmatic nickel sulphide province.

The province has been proven by Anglo American (2007 – 2012) to host Ni-Cu-PGE sulphide mineralisation within intrusions that are similar to the large-scale magmatic Ni-Cu-PGE sulphide ore bodies of the Norilsk and Voisey’s Bay deposits.

More than 40 fertile troctolite intrusions have been identified (Figure 6). Only one intrusion has been subjected to initial drilling.

Limited historic drilling by Anglo American confirmed the presence of fertile host rocks carrying magmatic sulphide mineralisation with up to 133m @ 0.12% Ni and 105m @ 0.14% Ni (up to 0.58% Ni, 0.28% Cu, 290ppb Pd, 220ppm Pt)

Anglo American concluded “mafic and ultramafic intrusive complexes that were previously unknown in the area do in fact exist and have the potential to host Ni-Cu-PGE sulphide deposits similar to that at Voisey’s Bay” and their drill results “are considered to be very significant” and show that “(i) the right rocks are present, (ii) there are multiple untested intrusions and (iii) the magmas are fertile – all of which are very encouraging for further Ni [sulphide] exploration”.

Superior is in a sector-leading Ni-Cu-PGE position, aided by the advantage of having enormous amounts of modern exploration data generated by Anglo American on a proven magmatic Ni-Cu-PGE sulphide province, including large, high resolution airborne geophysical surveys totalling more than 5,070 line-kilometres and information from petrographic and academic studies on key rock types.
The Project represents the most prospective new Ni sulphide province in Australia.

ACTIVITIES DURING QUARTER
Two field reconnaissance visits to the project area were conducted during November and December 2022.

The objectives of the field visits were to conduct rock chip sampling of key intrusions that crop out at surface (Figures 7 to 9), establish practical access arrangements with the landholder and identify logistical factors relevant to field exploration work.

The field visits also enabled two well-funded parties to conduct field due diligence on the project as part of a commercial discussions relating to potential farm-in and joint venture transactions. Discussions with the parties are continuing. The parties’ interests in Superior’s nickel assets do not conflict with each other as their objectives target different styles of nickel mineralisation (i.e. Magmatic Ni-Cu-PGE sulphide and Laterite Ni).

NEW TENEMENT APPLICATIONS

Applications for three new exploration permits for minerals (EPM) were made during the September Quarter. Each of the applications comprise 100 sub-blocks, covering a total of 900km2 , being the maximum size permitted for an EPM (Figure 10).

The applications were made for the purpose of covering additional terrain considered prospective for Voisey’s Bay style magmatic Ni-Cu-PGE sulphides.

The EPM areas include several high priority magnetic features that were considered by Anglo American to be priority intrusion-related magmatic sulphide target.

This all looks pretty exciting. NB 'two well-funded parties ....commercial discussions ..'

Methinks that this would be a very way to raise capital, by selling the farm-ins. Thought HH2?